Sim related frauds are very common.
Bigger frauds take place in banking systems.
I have worked in banks and I know that.
The current system of cross border payment is 80 years old.
Also, if someone sends money from Brazil to Canada, BIS and SWIFT get complete data about financial transactions.
Which actually is a privacy hazard.
People do not take financial privacy seriously.
There are 3GPP and non 3GPP.
AST space mobile and Lynk.world are 2 US based startup building 3GPP based space Base Stations.
Globstar (iPhone) and Iridium (Samsung handset) are non-3GPP based.
I have long advocated the integration of telecom and finance; for the survival of cellular operators.
Jio for example, already working in this direction.
Jio is going to offer wealth management, consumer lending and kinda broker services…
It has signed a partnership with world’s biggest asset management firm: BlackRock.
I believe no one will execute it better than Elon Musk.
X + Starlink + Blockchain = JP Morgan 2.0
Telecom operators must stop charging for calls and internet.
And start focusing on financial services.
How will they make a living without this basic income?
Competition is fierce, in each country there are too many MNOs, they cannot survive all.
Even now they have problems most of them.
Even Verizon and AT&T in US are in high debt.
T- mobile announced cut recently.
Not sure why… So much profit in 5G.
But still on this path…
They all admit that 5G revenue is low and does not even cover investment, let alone profit.
We can see there are no use cases (any application, data need, calling need) for a common man.
Because 4G is fulfilling all requirements, even 4G is working fast since when 5G is rolling out.
Here is what Starlink offers now:
It is way too expensive now.
But in 2-3 years I think they will have a business case.
I told you it’s coming:
Elon Musk has decided to make X (formerly Twitter) an “everything app” with multiple functionalities, including a payment hub processor integrated with the microblogging social network and other tools from the building ecosystem. Musk already stated that X is a “DOGE-friendly place”.
Part of the work of becoming a payment hub, or a cryptocurrency-friendly place, in the United States lies in obtaining the required licenses to operate such a business legally. Elon Musk’s company has been gradually doing that in different states but mostly focused on fiat payments under the “Money Transmitter License.”
Notably, Rhode Island approved a requested license by Twitter Payments LLC — X’s payment branch — on August 28, according to data from NMLS. The “Currency Transmitter” license also includes different crypto-related service providers, such as crypto exchanges, wallets, and payment processors.
In particular, this license will enable X to store, transfer, and exchange digital assets on behalf of its users.
BlackRock has joined forces with the financial services arm of India’s tycoon Mukesh Ambani in what’s been referred to as a “major move.”
This paves the way for the world’s largest money manager to gain a foothold into the country’s fast growing asset management market.
BlackRock, which had $9.4 trillion assets under management at the end of June, together with Jio Financial Services, each plan to invest up to $150 million in the 50-50 venture, according to a statement on Wednesday.
The joint venture will be called Jio BlackRock.
Moral of the story of the rise & (potential) fall of Rakuten Mobile: Even innovative technologies like Open-RAN can’t do anything if there are price wars in the industry - unless the innovator is ready to play even a bigger price war & investment game like Reliance Jio did?
Vodacom and kuiper announced using satelite usage to cover less densely populated areas.